Latest RMB bond news

  • DBS goes long in China

    The onshore arm of DBS bagged Rmb3bn ($448.3m) in the Chinese bond market on Tuesday. It is the issuer’s first trade since 2015 which carries a tenor of more than one year. The transaction also marked the second bond deal by a Singaporean lender in China this year.

    • 09:45 AM
  • Updated: BEWG, GLP seize window for Panda comeback

    Onshore DCM bankers are having a busy week in the Panda bond market. Two returning issuers have lined up onshore transactions this week, as they seek to profit from looser liquidity and falling yields in China.

    • 17 Jul 2018
  • Offshore investors hot on Hang Lung’s Panda

    Hang Lung Properties raised Rmb1bn ($149.8m) in its Panda bond sale last Friday. Most of the demand for the builder’s onshore debut came from the offshore market, as mainland investors, guided by the government’s policy, kept their hands off real estate names.

    • 17 Jul 2018
  • Updated: Dongfeng-Nissan kicks off H2 ABS race

    Dongfeng Nissan Auto Finance is selling a Rmb4.5bn ($674.4m) ABS deal next week — the first by a foreign originator in the second half. Sources say the originator has been afforded a nice window to issue given the looser onshore liquidity, but it will enjoy less flexibility around the structure of the deal.

    • 13 Jul 2018
  • Portugal’s Panda ‘being finalised’, green a possibility

    Portugal’s planned Panda bond is “being finalised” and the sovereign is “looking closely” at the green bond market, according to the country’s minister of finance.

    • 12 Jul 2018
  • Deutsche bags bond licence in China, eyes Panda deals

    In a sign of warming relations between China and Germany, regulators in China gave Deutsche Bank the licence to underwrite corporate bonds in the interbank market. But the bank has its sights set on a bigger prize — the right to joint lead underwrite Panda bonds for corporate issuers.

    • 12 Jul 2018
  • Deutsche eyes dual bond licences in China

    In a sign of warming relations between China and Germany, Chinese authorities said they would let Deutsche Bank underwrite corporate bonds in the interbank market. The bank is hoping to grab two different types of underwriting licences, GlobalRMB has learned.

    • 10 Jul 2018
  • Panda sale to build Hang Lung’s green credentials

    Hong Kong-based Hang Lung Properties is hitting the Panda bond market for the first time, as it seeks to finance the construction of two shopping malls in the mainland. The issuer says the new buildings will be environmentally friendly, making the Rmb1bn ($150.9m) trade one of the few green Panda deals.

    • 10 Jul 2018
  • CWAG opts for privately placed Pandas

    Hong Kong-listed China Water Affairs Group (CWAG) has hit the Panda bond market for the first time, raising Rmb200m ($30.3m) from a private deal. Bankers think private placements and cornerstone-driven transactions are only going to get more attractive, in large part thanks to rising bond market volatility.

    • 06 Jul 2018
  • Small but well formed: China cuts pricing on CNH auction

    China’s Ministry of Finance sold Rmb5bn ($755.5m) of offshore RMB bonds on Thursday, and managed to keep the coupons of the two tranches below last year’s levels. But analysts say the sovereign’s success was limited by a modest fundraising target, which partly reflects the shift of focus to onshore Chinese bonds.

    • 05 Jul 2018

RMB bond news archive

GlobalRMB Panda Bonds league table

Rank Arranger Share % by Volume
1 China Merchants Securities Co 22.39
2 CITIC Securities 13.39
3 Agricultural Bank of China (ABC) 12.17
3 Industrial and Commercial Bank of China (ICBC) 12.17
5 China CITIC Bank Corp 10.95

Panda Bond Database

Pricing Date Issuer Country Size Rmb (m)
1 13-Jul-18 Global Logistic Properties Singapore 2,000
2 13-Jul-18 Hang Lung Properties Hong Kong 1,000
3 28-Jun-18 China Water Affairs Group China 200
4 26-Jun-18 Want Want China Holdings Taiwan 500
5 14-Jun-18 Bank of China Group Investment China 1,000

Offshore RMB Bond Top Bookrunners

Rank Bookrunner Share % by Volume
1 Standard Chartered Bank 33.47
2 HSBC 19.33
3 Societe Generale 4.75
4 Bank of Taiwan 4.07
4 Cathay United Bank 4.07

Latest Offshore RMB Bonds

Pricing Date Issuer Country Size Rmb (m)
1 21-Jun-18 Shimao Property Holdings China 1,200
2 19-Jun-18 Korea Development Bank (KDB) South Korea 1,750
3 07-Jun-18 Export-Import Bank of Korea (Kexim) South Korea 1,500
4 23-May-18 QNB Finance Qatar 600
5 16-May-18 First Abu Dhabi Bank PJSC United Arab Emirates 1,100